Rent Collection Policy

Monthly rent collection is one of the most vital functions performed by the on-site property management personnel. The importance of ensuring that rent is collected correctly cannot be overemphasized.  It is ultimately the Community Manager’s responsibility to ensure that money is being collected in accordance to United Apartment Group Rent Collection policy.

Prompt collection of delinquent rent is of critical importance to the successful operation of your community. Failure to collect rent on a timely basis can cause cash flow problems leading to delayed payment of vendors, late payment penalties, difficulty in paying the communities mortgage and a host of other problems.

 Please see the below UAG policy on Rent Collections and the Collection Schedule.

 RENT COLLECTIONS

Each employee accepting payments in the following forms is directly responsible for issuing a written receipt for the monies received if requested by the resident. A photocopy of the check, money order or cashier’s check with the management signature and date received can be provided as a form of receipt. The following is a list of acceptable forms of payment to be accepted:

• Personal Check
• Cashier’s Check
• Money Order
• Travelers Check
• Electronic Payment (ACH, Debit, Credit)
• CASH IS NOT ACCEPTED UNDER ANY CIRCUMSTANCE

No checks are to be accepted for late rent or late charges, after the late charge date. Cashier’s check, money order or certified debit card payments only will be accepted.

• No two-party checks will be accepted.
• Temporary checks can be accepted but need to be posted as follows: TEMP and the unit number for the resident making the payment.

 Upon receipt of payment, immediately endorse the back of the check/money order using the endorsement stamp or by writing “For Deposit Only”. Security deposits for applicants should be endorsed immediately and held in a secure place until deposited.

An attempt must be made to contact every resident who is delinquent with rental payments or other charges by telephone.  These calls should begin on the 1^st day rent is late and continue daily until a conversation occurs with the Resident and a commitment made to pay or move has been established.  If attempts to contact the resident by phone fail, you must then make personal contact by visiting the resident’s home.  Always remember to document the conversation.

Eviction Hold-Off Agreement. In order for a resident to complete an eviction hold off agreement, the resident must complete the Eviction Hold Off Agreement and submit a money order for the amount of the eviction filing fee (may differ by jurisdiction).  If the resident does not follow the eviction hold-off agreement, on the day of default immediately send a 3-Day Notice to Vacate and start eviction proceedings.

Certain telephone procedures must be followed:

• You may leave a message on an answering machine or with a co-worker or anyone answering the phone, but you may not indicate that your call concerns a delinquent payment. Simply leave a message with your name and phone number.
• When you discuss payment with a Resident, make sure that the Resident understands the collection procedures.

 Rent is due and payable no later than date specified on the lease.

COLLECTION SCHEDULE – Texas Only

Note: The collection schedule, miscellaneous letters, notices, etc., within the forms section, are designed to comply with Texas Law. If your community is not located in Texas, comply with the laws in your state.

 3^rd of the month – Friendly reminder letter

4^th of the month – Deliver first written request letter

5^th of the month – Deliver final written request letter

7^th of the month – Deliver the Notice to Vacate within 3 Days for Non-Payment of Rent. 

8^th of the month – Exercise Lock-Out if less than 25% of the rent has been paid (optional)

10^th of the month – File for eviction

16^th of the month – Last day to receive rent payment for eviction hold offs.

The Eviction Hold Off Agreement is attached and can also be found on the Box under Forms – Resident Administration Forms – Collection and Eviction Notices.